USD/JPY may rise 71 - 104 pips

153.43 is our pivot point.

Our preference

Rebound towards 154.95.

Alternative scenario

The downside breakout of 153.43 would call for 152.87 and 152.54.

Comment

The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price is trading above its 20 period moving average (153.83) but under its 50 period moving average (154.65).

Supports and resistances

155.62 **

155.29 *

154.95 **

154.62

153.91 last

153.65

153.43 **

152.87 *

152.54 **

Number of asterisks represents the strength of support and resistance levels.